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US: Employment Report Disappoints
| | Fundamental Analysis | Jul 02 09 15:37 GMT
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The US employment report for June showed a larger than expected decline in employment. Although some of this was due to the unwinding of temporary census-related hires by the federal government, subtr...
| | Economic Data
US Data
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Bigger-than-Expected Drop in U.S. Payroll Employment in June
| | Fundamental Analysis | Jul 02 09 14:03 GMT
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Payroll employment fell 467,000 in June, a bigger slide relative to the 365,000 drop expected within financial markets going into the report. This was up from May's surprisingly small drop of 322,000 ...
| | Economic Data
US Data
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Employment: Job Losses Reflect Sector Changes
| | Fundamental Analysis | Jul 02 09 13:34 GMT
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Non-farm employment fell 467,000 with widespread declines in many sectors especially for the ongoing structural change in manufacturing. The job losses are consistent with our expectations for modest ...
| | Economic Data
US Data
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US: ISM Recovery Intact
| | Fundamental Analysis | Jul 01 09 17:51 GMT
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An ISM index at 44.8 - and still rising - is consistent with our long-held view that the economy should return to positive growth in the coming months. A huge gap between production growth and growth ...
| | Economic Data
US Data
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ISM Manufacturing: No “V” Shaped Recovery; Jobs, Production Up
| | Fundamental Analysis | Jul 01 09 14:52 GMT
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June's ISM suggests the second quarter ended with modest upside momentum. Auto production should kick-start the third quarter. However, the orders index was disappointing and suggests that the recover...
| | Economic Data
US Data
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"Less Bad" is no Longer Good Enough for Consumers
| | Fundamental Analysis | Jun 30 09 16:02 GMT
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The Consumer Confidence Index gave back part of its recent gains in June, falling 5.5 points to 49.3. Both the present situation and expectations series fell, with the present situation series giving ...
| | Economic Data
US Data
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Chicago Business Barometer Rebounded in June
| | Fundamental Analysis | Jun 30 09 15:10 GMT
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The Chicago Business Barometer rebounded in June to 39.9, jumping 5.0 points and nearly erasing the May decline. All component indices increased while increases for both new orders and order backlog s...
| | Economic Data
US Data
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U.S. Personal Spending Boosted by Stimulus-Induced Jump in Incomes
| | Fundamental Analysis | Jun 26 09 13:45 GMT
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Personal consumer expenditure (PCE) rose an expected 0.3% in May following unchanged spending in April (previously reported as down 0.1%). Spending was supported by the 1.4% jump in personal income wi...
| | Economic Data
US Data
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Personal Income & Spending Both Rose in May
| | Fundamental Analysis | Jun 26 09 13:26 GMT
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Income and spending both moved higher in May, with income up 1.4 percent on the month. Gains in disposable income (1.6 percent on the month) were largely the result of increased social benefit payment...
| | Economic Data
US Data
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Annualized Decline in U.S. GDP Lowered to 5.5%
| | Fundamental Analysis | Jun 25 09 13:37 GMT
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The final (third) estimate of the decline in first-quarter GDP was moderated once again, this time to 5.5% from the preliminary (second) estimate of 5.7% and the advance (first) estimate of 6.1%. Expe...
| | Economic Data
US Data
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U.S. New Home Sales Dip
| | Fundamental Analysis | Jun 24 09 15:16 GMT
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New homes sales in the United States pulled back 0.6% in May to 342,000 units with April's initially reported 352,000 revised down to 344,000. Although the report disappointed expectations of a 2.3% i...
| | Economic Data
US Data
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U.S. Durable Orders Much Stronger than Expected
| | Fundamental Analysis | Jun 24 09 15:15 GMT
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Surprisingly good news emerged from the May durable goods new orders report, showing an unexpected and very strong gain of 1.8% in the month. Expectations had been for a decline of 0.9%. This increase...
| | Economic Data
US Data
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New Home Sales Disappointed in May
| | Fundamental Analysis | Jun 24 09 14:45 GMT
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Sales of new homes slid to 342,000 units at an annual pace in May, off of a downwardly revised level of 344,000 in April. Over the last three months the net revision was a loss of 32,000 units. While ...
| | Economic Data
US Data
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Durable Goods Orders Much Stronger than Expected
| | Fundamental Analysis | Jun 24 09 14:05 GMT
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In a welcome surprise, durable goods orders at U.S. manufacturers jumped 1.8 percent in May. The consensus was looking for a decline of roughly one percent. After last month’s 1.8 percent gain, this r...
| | Economic Data
US Data
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U.S. Existing Home Sales Rebound as Inventories Decline
| | Fundamental Analysis | Jun 23 09 15:02 GMT
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Existing home sales in the United States rose 2.4% in May to 4.77 million annualized units. Expectations were for a slightly stronger gain of 3% to 4.82 million units from April's 4.66 (revised from 4...
| | Economic Data
US Data
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Existing Home Sales Rose Modestly in May
| | Fundamental Analysis | Jun 23 09 14:39 GMT
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Sales of existing homes rose to 4.77M units at an annual rate in May, as the portion of distressed sales retreated. Distressed or foreclosure-related sales accounted for "just" 33 percent of activity ...
| | Economic Data
US Data
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Philadelphia Fed Index Jumped Unexpectedly in June
| | Fundamental Analysis | Jun 18 09 16:34 GMT
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The Philadelphia Fed’s general activity index jumped 20.4 points to -2.2 in June, much better than expected. The new orders and shipments indices also jumped, suggesting a possible rise in the June IS...
| | Economic Data
US Data
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Leading Index Points to Better Days for the U.S. Economy
| | Fundamental Analysis | Jun 18 09 16:33 GMT
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The Leading Economic Index (LEI) gained 1.2 percent exceeding last month's gain and posting the first back-to-back monthly increase in almost three years. This report is consistent with our forecast t...
| | Economic Data
US Data
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U.S. CPI Sinks Further into Negative Territory
| | Fundamental Analysis | Jun 17 09 14:12 GMT
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Consumer prices in May showed a modest rise of 0.1% compared to an expected increase of 0.3%. This contributed to the year-over-year rate sinking further into negative territory, declining 1.3% relati...
| | Economic Data
US Data
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U.S.: Goldilocks Scenario for U.S. Consumer Price Inflation
| | Fundamental Analysis | Jun 17 09 14:10 GMT
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U.S. consumer prices were much softer than expected in May, with the headline index rising by only 0.1% M/M (0.096% M/M at 3 decimal places) following the flat print the month before. This was much le...
| | Economic Data
US Data
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Inflation Remained Tame in May
| | Fundamental Analysis | Jun 17 09 13:59 GMT
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Both the overall and core CPI rose just 0.1 percent in May, continuing the recent moderating trend in inflation. The overall CPI has declined at a 0.2 percent rate over the past three months and is do...
| | Economic Data
US Data
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Producer Price Index Below Expectations - No Inflation Yet
| | Fundamental Analysis | Jun 16 09 14:38 GMT
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The Producer Price Index (PPI) rose 0.2 percent in May, which was below expectations. The increase was driven by a 13.9 percent spike in gasoline prices. Core PPI, which excludes food and energy price...
| | Economic Data
US Data
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Slide in U.S. Industrial Production Continues
| | Fundamental Analysis | Jun 16 09 14:10 GMT
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U.S. industrial production sank by 1.1% in May, slightly more than forecast, and the capacity utilization rate slumped to 68.3%, marking a new record low for the series. April was revised to show a 0....
| | Economic Data
US Data
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Strong Rise in U.S. Housing Starts
| | Fundamental Analysis | Jun 16 09 14:09 GMT
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Housing starts came in stronger than expected in May, rising 17.2% to an annualized 532,000 compared to an expected level of 485,000. This increase more than retraced the 12.9% drop in April, although...
| | Economic Data
US Data
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Housing Starts Bounced Back A Bit In May
| | Fundamental Analysis | Jun 16 09 13:56 GMT
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Housing starts rose more than expected in May, with overall starts rising 17.2 percent to a 532,000-unit pace. About two-thirds of May's increase was in multi-family units, which fell sharply in April...
| | Economic Data
US Data
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TIC Data Confirms Currency Moves In April. Shows A Reduction In Net U.S. Investment
| | Fundamental Analysis | Jun 15 09 14:09 GMT
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The net amount of long-term financial investment flowing into U.S. equity, note, and bond markets, minus the amount of U.S. investment heading abroad dropped to $11.2b in April, compared to the rate o...
| | Economic Data
US Data
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Empire State Survey Signals Tough Period for Manufacturing
| | Fundamental Analysis | Jun 15 09 13:25 GMT
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The Empire index of general business conditions deteriorated in June, signaling an increase in the pace of decline for the manufacturing sector. However, the forward-looking component that measures ge...
| | Economic Data
US Data
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US: Auto and Gasoline Sales Lift Consumer Spending
| | Fundamental Analysis | Jun 11 09 15:06 GMT
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A spike in gasoline sales of 3.6% m/m, as higher prices at the pump boosted nominal sales, was a big factor in the rise in retail sales. Auto sales rebounded as well, rising 0.5% m/m. However, it look...
| | Economic Data
US Data
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Another Notch Down in Business Inventories
| | Fundamental Analysis | Jun 11 09 14:58 GMT
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Retailers, wholesalers and manufacturers drew down inventories at a 1.1 percent pace in April, which represents one more month of progress in an extremely long process, as businesses got caught with f...
| | Economic Data
US Data
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U.S. Retail Sales Post Gains after Two Consecutive Monthly Declines
| | Fundamental Analysis | Jun 11 09 14:06 GMT
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U.S. consumers increased their retail purchases by 0.5% in May after sales contracted by 0.2% in April (revised from the initially reported 0.4% decline). Sales of autos and parts posted a 0.5% rise, ...
| | Economic Data
US Data
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Retail Sales Increased for First Time Since February
| | Fundamental Analysis | Jun 11 09 13:18 GMT
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Sales at the nation's retailers increased 0.5 percent in May, pushed higher by rising gasoline prices as well as a gain in the beleaguered building materials sector. Our preferred 'core' series which ...
| | Economic Data
US Data
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US Beige Book: Economy Remains Weak, But Signs of Moderation Emerge
| | Fundamental Analysis | Jun 10 09 20:12 GMT
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The Fed's Beige Book prepared based on data reported prior to June 2 reported that economic conditions remained weak or worsened through May. However five of the Fed districts saw the downward trend i...
| | Central Banks
Fed
Economic Data
US Data
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U.S. Trade Balance Deteriorates
| | Fundamental Analysis | Jun 10 09 14:25 GMT
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The U.S. trade balance deteriorated to -US$29.2 billion in April following March's -US$28.5 billion (revised from -US$27.6 billion). Excluding petroleum, the trade balance deteriorated to -US$24.2 bil...
| | Economic Data
US Data
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Another Outsized Cut in Wholesalers' Inventories
| | Fundamental Analysis | Jun 09 09 14:57 GMT
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Inventories of merchant wholesalers declined 1.4 percent in April, marking the eighth straight month of declines. The revision to March makes it the largest inventory decline on record. Sales decrease...
| | Economic Data
US Data
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NFP Falls Much Less Than Expected
| | Fundamental Analysis | Jun 05 09 13:33 GMT
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US May nonfarm payroll declined by 345K, the market had expected a decline of 520K. This marks the smallest decline in US nonfarm payrolls since September 2008 and was half the average monthly decline...
| | Economic Data
US Data
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U.S. Unemployment Rate Jumps to 9.4%
| | Fundamental Analysis | Jun 05 09 13:24 GMT
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The U.S. labour market continued to weaken in May, although the pace of decline slowed significantly. Non-farm payroll employment fell by 345,000, a much smaller drop than expected, with the consensus...
| | Economic Data
US Data
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Payrolls Drop By 345K: Unemployment Reaches Highest Since 1983
| | Fundamental Analysis | Jun 05 09 13:21 GMT
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According to the Non-Farm Payroll report, the U.S. economy shed only 345K jobs in May, even though the market expected the report to show that the economy lost 520K. The April read was revised lower, ...
| | Economic Data
US Data
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Initial U.S. Jobless Claims Drop Slightly
| | Fundamental Analysis | Jun 04 09 13:09 GMT
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The number of new claims for unemployment benefits for the week ending May 30 decreased by 4,000 to 621,000, the Labor Department said today. Economists had expected to see 620,000 new claims. The fou...
| | Economic Data
US Data
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Second Consecutive Gain in the U.S. ISM Non-Manufacturing Index
| | Fundamental Analysis | Jun 03 09 15:13 GMT
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May saw an improvement in the service sector of the U.S. economy as measured by the ISM non-manufacturing index. The index rose to 44 from April's 43.7 (a reading of 45 was expected). The employment c...
| | Economic Data
US Data
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U.S. ISM Service Sector Index Increases
| | Fundamental Analysis | Jun 03 09 14:49 GMT
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The service sector of the economy contracted for a eighth straight month in March but at a slower pace, the Institute for Supply Management said today. The non-manufacturing index rose to 44.0 from th...
| | Economic Data
US Data
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ADP Reports Economy Loses Another 532,000 Jobs
| | Fundamental Analysis | Jun 03 09 13:15 GMT
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According to Automated Data Processing (ADP) nonfarm private employment decreased by 532,000 from April to May, on a seasonally adjusted basis. April's ADP Report estimates nonfarm private employment ...
| | Economic Data
US Data
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Pending Home Sales Surge In April
| | Fundamental Analysis | Jun 02 09 14:33 GMT
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The number of signed contracts for home purchases rose in April by 6.7%, the National Association of Realtors said today, a sign that the weakness in housing market may have seen a base in some areas....
| | Economic Data
US Data
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U.S. ISM Manufacturing Index Continues its Uptrend
| | Fundamental Analysis | Jun 01 09 15:52 GMT
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The ISM manufacturing index rose to 42.8 in May following April's 40.1 reading. Although still in sub-50 contractionary territory, today's report puts the index at its highest level since before the i...
| | Economic Data
US Data
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Boost in U. S. Personal Incomes from Stimulus Package Helps Beef Up Savings Rate
| | Fundamental Analysis | Jun 01 09 15:51 GMT
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The stimulus package in the United States began having a noticeable effect in April as personal incomes rose 0.5% from the prior month's -0.3% (revised from -0.2%). Wages and salaries were flat on the...
| | Economic Data
US Data
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U.S. ISM Manufacturing Edges Higher
| | Fundamental Analysis | Jun 01 09 14:29 GMT
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The Institute for Supply Management (ISM) said today that their manufacturing index for March was 42.8, better than the 42.2 economists had expected to see. While employment and inventories continue t...
| | Economic Data
US Data
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Personal Income Higher While Spending Weakened in April
| | Fundamental Analysis | Jun 01 09 13:27 GMT
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Personal income rose 0.5 percent in April, the best gain since last May. Real disposable income moved 1.1 percent higher as withholding table changes from the last stimulus bill helped lower tax bills...
| | Economic Data
US Data
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Decline in U.S. GDP Growth More Moderate than Earlier Estimates
| | Fundamental Analysis | May 29 09 14:34 GMT
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The decline in U.S. economic activity in the first quarter was revised to show a more moderate contraction of 5.7% at an annual rate compared to earlier estimates of a 6.1% drop, representing an easin...
| | Economic Data
US Data
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First Quarter GDP Contracts 5.7%, Less Than The Initial Estimate
| | Fundamental Analysis | May 29 09 13:25 GMT
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Real gross domestic product (GDP) contracted at a 5.7% annual pace in the first quarter of 2009, slower than the 6.1% contraction the Advanced GDP report printed one month ago. Currently, the U.S. Eco...
| | Economic Data
US Data
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New Home Sales Rose Slightly in April
| | Fundamental Analysis | May 28 09 15:00 GMT
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Sales of new homes moved higher by 1,000 units in April to 352,000 units at an annual rate from the downwardly revised March level. Inventory levels continued to improve and broke through 300,000 for ...
| | Economic Data
US Data
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U.S. New Home Sales Post Slight Gain
| | Fundamental Analysis | May 28 09 14:27 GMT
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Sales of new, single-family homes rose to a seasonally adjusted annual rate (SAAR) of 352,000 in April, the Census Bureau and Department of Housing and Urban Development said today, a 0.3% increase fr...
| | Economic Data
US Data
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